FAQ

 

GENERAL

 

1. What is TP Auctions?

TPAuctions is a premier online auction platform that offers a unique and convenient experience for buyers to access the finest luxury items from around the world. Our platform provides a secure and hassle-free experience for the sale of luxury goods, such as luxury watches, branded jewelry, designers bags and art.

 

2. How does TP Auctions work?

TPAuctions is an online event based bidding system, where buyers can place bids on luxury items available once the catalogue goes live.

 

3. How do I register on TP Auctions?

To register on TP Auctions, simply visit our website and click on the “Register” button. Fill in the form and add a payment card. Your card will be verified by deducting 1USD only.

 

4. Is TP Auctions a safe and secure platform?

Yes, TP Auctions is a safe and secure platform. We use state-of-the-art security measures to ensure that all transactions and personal information are protected. Our platform is also regularly audited to ensure its security.

 

5. Can I preview the luxury items before bidding?

Yes, TP Auctions provides detailed descriptions and images of all the luxury items available for auction. You can also visit our showroom to see items and try-out.

 

6. How can I contact TP Auctions for support?

TPAuctions provides continuous support to all our buyers and sellers. You can contact us on WhatsApp, phone, google messages or Instagram messages. Our team of experts will be happy to assist you with any queries or concerns you may have.

 

 

SELLING

 

7. How much does it cost to sell with TP Auctions?

If your item is sold through TP Auctions, you will receive 100% of the reserve price, plus 90% of any amount above the reserve price. So for example, if you set a reserve price of $1000 for your item and it sells for $2000, you will receive $1900 ($1000 for the reserve price + $900 for the amount above the reserve price), while TP Auctions will keep $100 (10% of the $1000 amount above the reserve price).

8. What items do you currently accept through TP Auctions?

Luxury watches, branded jewelry, designer bags. We are an online auction platform for all luxury items.

9. How can I sell my item through TP Auctions?

All you need to do is fill the web form or send us a request on WhatsApp, we will highlight what information is required and our purchasing team will contact you within 24 hours.

10. How is the reserve price set?

Our team of experts will help you understand the value of your item and recommend the best reserve price, which you would need to agree with.

11. What happens once my item is accepted by TP Auctions?

             We Inspect your luxury item, photograph, write the description, and list it on our website.

             Once the auction goes live, we run marketing campaigns, contact customers and answer

             questions on your behalf. Items are as well displayed in our showroom for viewings.

12. What happens if my item does not receive a bid?

If your item is not sold, you can receive it immediately after the auction ends.  Our team can also speak with you directly regarding alternative options for selling your item.

 

13. Can I withdraw my item once it has been handed over?

Once we sign the consignment papers and receive the item, you cannot withdraw your item until after the Auction.

 

14. If my item is successfully sold in the Auction, how do I get paid?

Once the auction ends, if your item was sold, you will be notified by email. You will receive your money within 14 days from end of the Auction.

 

 

BUYING

 

15. How much does it cost to register with TP Auctions?

Registration is free of charge; you need to add a payment card in order to place a bid. Your card will be verified by deducting 1USD only. Nothing further will be deducted from your card at this stage.

16. How can I make a bid on the Auction?

To place a bid on TPAuctions, you must be a registered buyer with a verified payment card. Simply login to your account and select the item you wish to bid on, enter the amount and click on the "Place Bid" button.

 

17. What is the auto bid feature? and how does it work?

 

Automatic bidding (auto-bid) is the easiest way to bid on TP Auctions. Simply enter the maximum price you're willing to pay for an item, and the system will do the rest for you.

Once you enter the maximum price, you can stay ahead of the other bidders, without needing to be on the site.

Setting up the auto-bid is very easy, simply enter the maximum amount you would like to pay for the item and select place bid. The system will bid in increments on your behalf to keep you as the highest bidder, but only up to your maximum limit.

18. What is the closing phase of the Auction?

Once the auction period has ended, the Auction goes into a closing phase where each lot closes in sequential order starting with lot 1 for 30 seconds, before moving onto the next lot. You can bid during those 30 seconds, each bid during the closing phase extends the auction for an additional 15 seconds, until we have a winner! You can watch the closing auction by logging into your account and clicking the Live icon.

19. Can I withdraw my bid?

No, once you place a bid you cannot withdraw your bid.

20. What if the item is not per the condition described?

If the item is faulty or defective, or not as described at the time of the auction/purchase, you must notify us within 7 working days from the date of delivery, and return the item, with box and paperwork where applicable, within 7 business days from the date of delivery of the item. We will inspect the Item, then replace, repair or refund your payment in full within 30 days from the date of the inspection.

21. Can I bid on an item if I am outside the UAE?

Yes, we accept bids from all over the world and we deliver your item with a courier at an additional cost.

22. Could you explain how the condition rating work?

Our rating is from 1 to 5 as follows:

5/5 - Unworn/ Unwanted gift: (Brand new, without any signs of wear) 4/5 - Mint / Excellent: (Minimal signs of wear from storage, transportation or occasional wear)

However some items from old stockpile, may have minimal signs of wear from storage.

3/5 - Very Good: (Worn. Glass, hands, dial, case, and movement in very good condition)

2/5 - Good: (Worn. Glass, hands, dial, case and movement in good condition. Movement may have been previously serviced)

1/5 - Fair: (Worn. Fully functional, glass and other parts may have been replaced. Movement may require servicing)

23. What happens if an item is not sold in the Auction, can I still buy it?

Well, it depends on the owner. You need to contact us and discuss your offer with the sales team and we will contact the owner on your behalf.

24. What is the buyer's premium?

The buyer's premium (also known as commission) is an additional charge of 15% a buyer is charged based on the hammer price excluding VAT. The winner would pay the Hammer Price and Buyer's Premium excluding VAT on the item.